Project Life-Cycle Template

Managing a project proficiently can be done only when the project manager has a great understanding of the phases of the project. You cannot start the project at once; it goes through rigorous planning before the foundation is laid. Every project mainly has 4 phases. The first one is the initiation phase in which the team works on the scope and other objectives of the project.

1. Project Initiation to Closure Template with documentation
2. Best Template for PMP and PMO managers
3. Best Project Life-Cycle Template in these categories (Project Planning, Task Breakdown Structure, Project Tracking, Project Closure)
4. Download project portfolio dashboard + project Management Slides (FREE) with this bundle
5. According to PMI standards

In the planning phase, various details like timeline, resources, deliverables, and budget is to be decided. The phase is a critical one in which most of the plan is executed. The team carefully carries out procedures to move the project towards completion.

The final stage is the closure of the project which marks the formal completion of the project and the start of the next project. To help the project manager, templates are available for each phase of the project that will lessen the burden and improve the efficiency of the project management process.

Importance of project Life-cycle in Project Planning

Project management is an extensive process that has different small steps which lead the project towards success. Project life-cycle planning greatly impacts the project. The project undergoes several steps of the project life-cycle which provide a better management system. For monitoring project progress, you must require these project plan templates.

It starts from the project initiation and leads to the closure. All the steps in between like planning, execution, monitoring, etc. are skillfully designed to make a project successful. Project life-cycle planning is a structured approach towards the management of the project which balances the objectives and outputs of the project as the project progresses.

Benefits of Project Life-Cycle Templates:

Each project life-cycle template has its own plus points but overall benefits are listed below;

• Better control over the project
• Data is recorded formally which can be used for tracking in future
• Keeps the team intact
• Works for better communication
• Time-saving
• Better planning and organization
• Well defined role and responsibilities
• Better resource allocation
• Milestones keep the team motivated to perform better

Categories of Project Management Life-Cycle Template

As the project life-cycle is divided into phases so then the templates are also categorized according to each phase of the project. Several templates fall under the category of each phase. It depends on the project manager to decide which one to use for a specific project as the requirements vary from one project to the other. Some templates are mentioned below;

Project Initiation Template

The project is in its primary stage and several things are to be cleared before the project starts. A simple project initiation template carries these details;

Project title, table of contents, project summary, purpose, objectives, scope, deliverables, dependencies, assumptions, acceptance criteria, monitoring, evaluation, milestones, resources, schedule, and few others.

A good project initiation document can catch the attention of stakeholders and investors. Never ignore the importance of an initiation document. To design the document in a better way you can use a template for it.

Project Planning Template

Project planning is a long process and during the phase, different things are sorted. But most importantly a plan of action is made for the smooth execution of the project’s plan. With the help of a project action plan actions for the identified goals are decided which will progress the project can also define roles and assign responsibilities.

Arrange the tasks on the basis of the priority keeping the deadlines under consideration. The project action plan template has a separate bar to figure out the status of each task.

Project Tracking Template

Project tracking is an important tool to keep up with the progress of the project. It keeps you informed about the ongoing status of the project from different perspectives. Project tracking keeps the team alert and motivated to meet the deadlines.

Project tracking template carries all the details about the tasks and their date of completion and also the allocated budget. With the help of this template, you can keep a record of all these things.

 Project Closure document

Project closure is the final step of project management. It basically channels the formal ending of the project in which all the information that is recorded throughout the project is presented to the project owner. All the assets used during the course of the project are well defined.

How Project Management Life-cycle helps Project Manager?

Project life-cycle management has a great impact on successful project management. These templates help you in your resource management plan. The project life cycle gives project managers an opportunity to divide the project into 4 phases and manage them as a unit instead of getting into the project haphazardly. The Project Life-Cycle Template management has improved the standards of management by making it easier for the project manager. Related: Product Analysis Template